Innoviz’s automotive-grade LiDAR will be used to enable autonomy for LOXO’s next zero-emission delivery vehicles.
TEL AVIV, Israel and BERN, Switzerland, June 28, 2023 /PRNewswire/ — Innoviz Technologies (NASDAQ: INVZ) (the “Company” or “Innoviz”), a Tier-1 supplier of high-performance, automotive grade LiDAR sensors and perception software, announced today that Switzerland-based LOXO, a provider of zero-emission autonomous delivery vehicles, has signed a letter of intent (LOI) to deploy InnovizOne LiDAR units on its delivery vehicles through 2024.
Innoviz’s automotive-grade LiDAR, InnovizOne, is planned to be used in LOXO’s zero emission, autonomous delivery vehicles, potentially allowing retailers to transport goods from local distribution hubs to end consumers in an efficient and sustainable manner. Earlier this year LOXO and Innoviz went through a successful product evaluation and testing with Innoviz’s Automotive-grade LiDAR, which led to an expanded order of InnovizOne units and a signed LOI for their 2024 fleet.
“Our LiDAR is purpose-built to be lightweight and easily integrate with vehicles of all shapes and sizes, from passenger cars to commercial fleets to last-mile delivery vehicles,” said Omer Keilaf, Co-Founder and CEO at Innoviz. “We are pleased for this vote of confidence from LOXO and are thrilled with this advancement in our partnership. Together, we plan to deploy advanced technology to autonomously deliver goods quickly, safely and affordably.”
“There is ample opportunity to optimize the exchange of goods from local distribution centers to a customer’s doorstep to elevate the logistics experience for today’s consumers. Innoviz’s automotive-grade LiDAR is a key component in facilitating optimized and autonomous last-mile delivery,” said Amin Amini, Co-Founder and CEO of LOXO. “We’re excited to equip our growing fleet of vehicles with Innoviz’s LiDAR and continue on our mission to expand access to goods in Switzerland and beyond.”
InnovizOne is a high-performance solid-state LiDAR sensor specifically designed for automakers and could also be used for other various applications such as robotaxi, shuttle and delivery companies requiring an automotive-grade, mass-producible solution to achieve autonomy. It is purpose-built to be rugged, affordable, reliable, power-efficient, lightweight, and seamlessly integrate into unique Level 3 to Level 5 autonomous vehicle designs ensuring the safety of passengers and pedestrians alike. LOXO vehicles equipped with InnovizOne are expected to be used to meet the growing demand of the autonomous last-mile delivery market, which is projected to reach $5.9 billion by 2030.
Credit: Innoviz Technologies
